H.I.G. Europe Acquires Armetallizing and Vacumet Paper
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U.K.-based H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, Miami, Fla., USA, this week announced that it has simultaneously acquired ARMetallizing (ARM), a Belgium-based European producer of metalized paper, from Ackermans & van Haaren, and Vacumet Paper, a Massachusetts-based U.S. producer of metalized paper, from Scholle Corp. The combined group will be a global market leader in metalized paper for use in the beverage and consumer packaged goods markets.
The group's metalized paper is currently used as base paper in premium beer labels, spirit labels, food packaging, and consumer product packaging. With revenues in excess of EUR 120 million, the group will supply clients globally from three manufacturing facilities in Belgium, Italy, and the U.S. and will be led by ARM CEO Paul Van Emmerick and CFO Martin Raeymakers, who will retain a significant shareholding in the business.
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